Question: Recording Entries for Long-Term Note Receivable; Effective Interest Method is 11%. Assume that the cost of the land is equal to the fair value of

Recording Entries for Long-Term Note Receivable; Effective Interest Method is 11%.

Recording Entries for Long-Term Note Receivable; Effective Interest Method is 11%. Assume that the cost of the land is equal to the fair value of the note. Required - Note: Round answers to the nearest whole dollar

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